OVERSEA CHINESE BANKING Corp Ltd Cuts Stake in Americold Realty Trust, Inc. (NYSE:COLD)

OVERSEA CHINESE BANKING Corp Ltd cut its stake in Americold Realty Trust, Inc. (NYSE:COLD) by 7.2% during the 4th quarter, HoldingsChannel reports. The firm owned 117,573 shares of the company’s stock after selling 9,057 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Americold Realty Trust were worth $2,516,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Americold Realty Trust by 2,288.1% in the third quarter. Assetmark Inc. now owns 1,003 shares of the company’s stock valued at $28,000 after purchasing an additional 961 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Americold Realty Trust by 1,081.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,221 shares of the company’s stock valued at $48,000 after acquiring an additional 2,033 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Americold Realty Trust during the third quarter valued at about $55,000. Vestcor Inc acquired a new stake in shares of Americold Realty Trust during the fourth quarter valued at about $86,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Americold Realty Trust by 3,946.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,868 shares of the company’s stock valued at $126,000 after acquiring an additional 5,723 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James lowered their target price on Americold Realty Trust from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Citigroup lowered their target price on Americold Realty Trust from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Truist Financial decreased their price target on Americold Realty Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Finally, Scotiabank lifted their price target on Americold Realty Trust from $27.00 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Americold Realty Trust Stock Performance

Shares of COLD stock opened at $21.89 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $21.75 and a two-hundred day moving average of $23.90. Americold Realty Trust, Inc. has a 52 week low of $20.41 and a 52 week high of $30.45. The company has a market cap of $6.23 billion, a P/E ratio of -64.39, a PEG ratio of 1.66 and a beta of 0.57.

Americold Realty Trust (NYSE:COLD) last issued its earnings results on Thursday, February 20th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.27. Americold Realty Trust had a negative return on equity of 2.70% and a negative net margin of 3.54%. The company had revenue of $666.44 million during the quarter, compared to the consensus estimate of $684.03 million. As a group, analysts anticipate that Americold Realty Trust, Inc. will post 1.47 EPS for the current year.

Americold Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This is an increase from Americold Realty Trust’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, March 28th. Americold Realty Trust’s payout ratio is presently -258.82%.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm’s real estate portfolio.